Krispy Kreme (NASDAQ:DNUT) Sees Unusually-High Trading Volume Following Analyst Upgrade

Krispy Kreme, Inc. (NASDAQ:DNUT) shares saw strong trading volume on Thursday after Singular Research upgraded the stock to a moderate buy rating. 4,528,905 shares were traded during trading, a decline of 25% from the previous session’s volume of 6,046,922 shares.The stock last traded at $4.20 and had previously closed at $4.03.

Several other analysts have also issued reports on DNUT. Morgan Stanley cut their price objective on Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating for the company in a report on Monday, July 14th. BNP Paribas Exane lowered Krispy Kreme from an “outperform” rating to a “neutral” rating and set a $3.50 price objective for the company. in a report on Monday, July 21st. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Krispy Kreme in a report on Wednesday, August 27th. Bank of America cut their price objective on Krispy Kreme from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, July 18th. Finally, Capital One Financial cut their price objective on Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.45.

Hedge Funds Weigh In On Krispy Kreme

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of Krispy Kreme by 1,440.9% in the first quarter. GAMMA Investing LLC now owns 9,338 shares of the company’s stock valued at $46,000 after purchasing an additional 8,732 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Krispy Kreme in the first quarter valued at about $61,000. Edgestream Partners L.P. grew its position in shares of Krispy Kreme by 77.4% in the first quarter. Edgestream Partners L.P. now owns 232,322 shares of the company’s stock valued at $1,143,000 after purchasing an additional 101,327 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Krispy Kreme by 33.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,684 shares of the company’s stock valued at $180,000 after purchasing an additional 9,216 shares during the last quarter. Finally, Corton Capital Inc. acquired a new stake in shares of Krispy Kreme in the first quarter valued at about $109,000. 81.72% of the stock is currently owned by institutional investors.

Krispy Kreme Trading Down 3.2%

The company has a market capitalization of $681.38 million, a price-to-earnings ratio of -1.50 and a beta of 1.34. The company has a 50-day moving average price of $3.47 and a 200-day moving average price of $3.44. The company has a quick ratio of 0.26, a current ratio of 0.34 and a debt-to-equity ratio of 1.24.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The business had revenue of $379.77 million during the quarter, compared to analyst estimates of $382.25 million. Krispy Kreme had a negative net margin of 29.33% and a negative return on equity of 5.55%. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. Research analysts predict that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.